JPMorgan Chase & Co. (NYSE:JPM) Shares Climb 1.2% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price was up 1.2% during trading on Friday. The stock traded as high as $344.40 and last traded at $339.4890. 8,278,907 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 9,211,677 shares. The stock had previously closed at $335.53.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan added more than 650,000 net new checking accounts in the third quarter and generated $15.3 billion in net income, highlighting continued franchise strength and customer acquisition. JPMorgan Chase: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Morgan Stanley, Royal Bank of Canada and Robert W. Baird analysts offered bullish assessments, including positive ratings or expectations for further share-price appreciation. Morgan Stanley Forecasts Strong Price Appreciation
• Positive Sentiment: The bank’s preferred-stock dividend declarations reinforce its ongoing capital-return profile, although they primarily benefit preferred shareholders. JPMorganChase Declares Preferred Stock Dividends
• Neutral Sentiment: JPMorgan is reportedly competing for corporate deposits with programmable-liquidity offerings. The strategy could support deposit retention and fee opportunities, but may also increase funding costs as banks compete more aggressively. Banks Offer CFOs Programmable Liquidity
• Negative Sentiment: Third-quarter EPS and revenue fell short of consensus expectations, raising questions about whether the bank’s strong earnings outlook is already reflected in its valuation.
• Negative Sentiment: Seeking Alpha downgraded JPMorgan to Hold, citing leverage as a potential constraint on future earnings. Citigroup also lowered its price target to $350 and maintained a Neutral rating. JPMorgan Chase: Leverage A Concern to Future Earnings
• Negative Sentiment: CEO Jamie Dimon warned of inflation, elevated asset prices and a higher-than-expected risk of market trouble. He also said market activity was moderating, potentially pressuring trading and investment-banking revenue. Jamie Dimon Warns About Inflation and Asset Prices

Wall Street Analysts Forecast Growth

Several research analysts have commented on JPM shares. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Wednesday, July 22nd. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. HSBC raised their price target on shares of JPMorgan Chase & Co. from $369.00 to $377.00 and gave the company a “hold” rating in a research note on Monday, September 28th. Citigroup decreased their price target on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.45.

JPMorgan Chase & Co. Stock Performance

The firm has a market capitalization of $902.43 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. The company has a 50-day moving average of $348.58 and a 200-day moving average of $330.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The company had revenue of $50.17 billion during the quarter, compared to analyst estimates of $51.23 billion. During the same period in the previous year, the company posted $5.07 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 24.18 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be paid a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.68%.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of JPMorgan Chase & Co. by 15.8% during the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after acquiring an additional 8,941,351 shares during the last quarter. Ascentis Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 32,672.0% in the second quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock worth $1,521,126,000 after buying an additional 4,632,891 shares during the period. Jupiter Topco LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $1,274,097,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in JPMorgan Chase & Co. by 31.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,944,004 shares of the financial services provider’s stock valued at $2,042,648,000 after purchasing an additional 1,662,250 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in JPMorgan Chase & Co. by 22.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,020,990 shares of the financial services provider’s stock valued at $2,625,511,000 after purchasing an additional 1,496,676 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.